Wednesday, June 19, 10:22 AM
The positives from a steeper yield curve outweigh the negatives for small and mid-cap banks, says Credit Suisse. Banks with larger reinvestment portfolios like Signature (SBNY) and Webster (WBS) will benefit from higher reinvestment rates. As higher rates come with stronger economic growth, C&I-heavy lenders like Columbia (COLB) and PrivateBancorp (PVTB) should gain. At risk as higher rates lead to a slowdown in mortgage banking are Umpqua (UMPQ), Associated (ASBC), and First Republic (FRC). At risk from core-deposit outflows: Susquehanna (SUSQ), BankUnited (BKU), and East West (EWBC).
1 Comment[Financials]
Thursday, March 14, 5:41 PM BankUnited (BKU) declares $0.21/share quarterly dividend, in line with previous. Forward yield 3.32%. For shareholders of record Apr. 01. Payable Apr. 15. Ex-div date Mar. 27. (PR)
Comment![Dividends]
Friday, March 8, 7:12 AM
BankUnited (BKU) prices a 19.6M share secondary at $25.25/share, a hefty discount to the pre-announcement price as one of its investors (maybe BX, CG, or Wilbur Ross) cashes out. Shares -2.2% premarket to $25.50 after yesterday's 3.4% decline. (PR)
Comment![Financials, On the Move]
Wednesday, March 6, 7:12 AM
BankUnited (BKU) announces a 19.6M share secondary offering. The bank - owned by Blackstone (BX), Carlylye (CG), and Wilbur Ross, among others - was on the block for $27-$29 a few months back, and now is doing a secondary at $28.57. (PR)
Comment![Financials]
Tuesday, December 18, 2012, 2:53 PMPNC Financial, TD Bank, BB&T (BBT) and BankUnited (BKU) are among the potential bidders as Spain's troubled Bankia looks to raise cash by putting its Florida unit - City National Bank of Florida - up for sale. With 26 branches, $4.3B in assets, and a loan book doing quite well for Florida, the business could fetch in the area of $500M.
Comment![Financials, M&A]
Monday, November 26, 2012, 5:36 PMBankUnited (BKU) declares $0.21/share quarterly dividend, 24% increase from prior dividend of $0.17. Forward yield 3.55%. For shareholders of record Dec 13. Payable Dec 27. Ex-div date Dec 11. (PR)
Comment![Dividends]
Friday, September 14, 2012, 5:12 PMBankUnited (BKU) declares $0.17/share quarterly dividend, in line with previous. Forward yield 2.73%. For shareholders of record Oct 01. Payable Oct 15. Ex-div date Sep 27. (PR)
Comment![Dividends]
Friday, August 17, 2012, 6:35 AM
BankUnited (BKU) is considering offers of around $25 a share from Toronto-Dominion Bank (TD) and BB&T (BBT), The NY Post reports, although the Florida-based firm is not in formal negotiations. The bids are below BankUnited's close of $25.70 yesterday and its asking price of $27-$29.
Comment![M&A, Financials]
Tuesday, June 19, 2012, 4:30 PM
Capital One (COF) reaches a settlement with BankUnited (BKU), its Chairman and CEO, and Chief Lending Officer, over a lawsuit commenced by Capital One alleging that Kanas and Bohlsen breached the terms of certain non-compete arrangements. Under the settlement, COF will receive $20M, and neither BankUnited nor any other bank for which Kanas and Bohlsen are employed will open a bank branch or subsidiary in New York, New Jersey or Connecticut until January 31, 2013.
Comment![Financials]
Friday, January 20, 2012, 11:47 AM
Steve Schwarzman to the Fed: none of your business. Blackstone (BX) is changing the structure of its 14.1% stake in BankUnited (BKU) after CEO Schwarzman balked at providing personal financial information to the Fed. It isn't clear why Schwarzman is so sensitive about it, except that he doesn't exactly hold the government in high regard.
4 Comments[Financials]